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8/7/£34 Page -3- <br />Councilman Leary expressed concern regarding <br />the statement made to Mr. Peabody by one of <br />the staff members that industrial may be <br />appropriate zoning. Mr. Rupp stated that <br />he spoke to the staff member and it was <br />apparent to him that Mr. Peabody misinterpreted <br />what she said and was not entirely accurate <br />as the letter portrayed. <br />Mr. Rupp stated that the money in the Major <br />Thoroughfare Fund is extremely tight and <br />none of it could be used for this purchase. <br />Royden Peabody, 731 Spruce Mr. Peabody introduced himself to council- <br />St. Boulder members and Mayor Meier informed him of <br />Representing Heidi Mountain the discussion held by Council before he <br />owner of the property. arrived. <br /> Mr. Peabody stated that this property could <br /> be sold with terms. Heidi Mountain was present <br /> and he wasn't certain what those terms would <br /> be right now because she is planning to buy <br /> another residence and move into it. Once <br /> she :knows how that will work out, then she <br /> will know what she needs to accomplish that <br /> transaction. In all probability she was not <br /> looking for $190,000 in cash; it would be <br /> what she needs for a down payment and trans- <br /> actional costs. The balance would be structured <br /> to coincide with the financing she gets on <br /> the property she is acquiring. Mr. Peabody <br /> asked if there would be moderate interest <br /> or no interest by the City in purchasing the <br /> property? <br />Councilman Cussen Stated he felt he would be interested; but <br /> it was important to realize that it would <br /> have to be an very enticing offer since <br /> Council is dealing with a fund that is nearly <br /> depleted. He also stated that we haven't <br /> closed the door but did not want to mislead <br /> him that the money was not a problem. <br /> Councilman Cussen inquired of Attorney Raut~n- <br /> traus - how can we have something within the <br /> City of Louisville and not be in our urban <br /> services area? <br /> Acting Administrator Rupp replied that the <br /> urban services area was approved by DRCOG <br /> and unless the service area is formally re- <br /> quested for adoption by the City, a change <br /> to i_t then may reflect it as something time <br /> past. CTC for a good number of years, 5 or <br /> so, was outside the service area but within <br /> the city limits. An amendment was taken to <br />